Raising Money for Computer Systems Design Services

With these bank loans for computer systems design services, the SBA guarantees the lender that the loan will be repaid. This computer systems design services loan for $340,000 was given to a Minnesota entrepreneur in 2004.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Cenbank, out of Ortonville, Minnesota. The loan was granted and they received $340,000 to help grow their Ortonville, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES
ORTONVILLE, MN 56278

SBA Loan Lender

CENBANK
113 NW 1ST ST
ORTONVILLE, MN 56278

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541512 - Computer Systems Design Services

Loan Approval Date

8/6/2004

Loan Approval Gross Amount

$340,000

Loan Approval from the SBA

Of the total $340,000 loan amount, the SBA guaranteed $255,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $340,000 loan. Remember, where there is a will, there is a way!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Small Business Credit Cards

Small Bank Loans in Ortonville, Minnesota

Minnesota SBA 7A Lenders